MILWAUKEE — Kohl’s, which has been expanding outward from its Midwestern base for the last decade, will become a true national chain in 2003 when it ventures west of the Rockies for the first time and opens a total of 20 stores in Los...
MILWAUKEE — Kohl’s, which has been expanding outward from its Midwestern base for the last decade, will become a true national chain in 2003 when it ventures west of the Rockies for the first time and opens a total of 20 stores in Los Angeles, Las Vegas and Phoenix, said R. Lawrence Montgomery, the chain’s chief executive officer.“We can’t wait,” he said. “We’re counting down the days.”The Los Angeles stores will open next spring, while the Las Vegas and Phoenix units will follow in the fall.?Montgomery added that the company recently built a distribution center in San Bernadino to service the new stores and is currently hiring and training key personnel for what is expected to be a major expansion by the Menomonee Falls, Wisc.-based moderate department store chain to the West Coast.Kohl’s also plans to open another 110 stores in existing and contiguous markets over the next two years, bringing its total to just shy of 600 units.Montgomery’s remarks came at the company’s annual meeting, which was held Tuesday at the Midwest Express Center in downtown Milwaukee.In a review of operations, Montgomery said the company continues to be on the lookout for moderately priced apparel brands that can be expanded across numerous categories. An example is Columbia sportswear, which the chain introduced two years ago and now features in women’s, men’s and children’s. ?Montgomery also singled out such recent introductions as Nine & Co., Jantzen and Oshkosh children’s wear as having potential for expansion.Kohl’s current top-10 brands — which account for 20 percent of total store sales — are Adidas, Columbia, Fieldcrest, Haggar, Lee, Levi’s, Nike, Reebok, Sag Harbor and Villager, a Liz Claiborne label.At an informal press conference after the meeting, Rick Leto, Kohl’s executive vice president and general merchandise manager, said the chain had no plans to pursue an acquisition along the lines of Sears’ recent purchase of Lands’ End. “That’s not the way we do business,” he said, before going on to label Sears’ deal an act of “desperation.”“Stores do things like that when they don’t have a developed apparel business and need a quick fix,” he said.Leto also extolled the virtues of small buying staffs, saying that even though sales have almost quadrupled over the last six years, Kohl’s has added only 10 new buyers for a total of 54. Last year was Kohl’s 10th anniversary as a public company, and Montgomery cited statistics to demonstrate the chain’s rapid growth during that time. l Revenues over the last decade have grown by about 23 percent a year and last year totaled $7.4 billion.l Earnings — which last year hit $496 million — have done even better, growing by almost 33 percent annually. l Comparable-store sales over the last decade have increased 8.4 percent a year.l A $1,000 investment in Kohl’s stock in 1992 would now be worth $37,000.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty